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Rhode Island commits $50m to infrastructure

by Zoë Wolff

The $8.1 billion Employees’ Retirement System of Rhode Island has committed $50 million to Stonepeak Infrastructure Fund II, according to recent meeting documents.

The fund, managed by Stonepeak Infrastructure Partners, focuses on midmarket power, midstream, transportation and communications investments in the United States. The fund recently received commitments from the Oregon Public Employees Retirement Fund, the Maine Public Employees Retirement System and the New Mexico Educational Retirement Board.

This is the first time the pension fund has invested in a Stonepeak fund. Earlier this year, the Rhode Island pension invested in I Squared Capital’s ISQ Global Infrastructure Fund.

ERSRI does not have a target allocation to infrastructure, according to meeting documents, however, its actual allocation is 1 percent.

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